MacArthur Park, a recently built garden-style multifamily community in Augusta, Georgia, has traded hands in a sale brokered by Berkadia. The 290-unit property, delivered in 2022, was sold by ATC Development, which has been active in apartment development in the region for more than five decades.
The transaction achieved a total sales price of $40.6 million. According to information released on the deal, the pricing equates to approximately $140,000 per unit. On a building-area basis, the sale reflects $168 per square foot. At the time of the transaction, MacArthur Park was reported to be 91% occupied, indicating a largely stabilized lease-up for a recently constructed asset.
A Berkadia Charleston team of Christian DiCroce, Jim Sewell, Dave Lansbury, and Erika Maston led the assignment on behalf of the seller. The brokers represented ATC Development in the sale, which involved marketing the property and arranging the transfer to an undisclosed buyer. The parties did not release any additional details on buyer identity, financing structure, or future plans for the property.
MacArthur Park is located at 101 Little Rock Drive in Augusta. The property offers residents convenient access to major transportation corridors, including I-520 and U.S. 78. It is also situated near key area destinations such as Augusta Mall and Fort Gordon, positioning the community close to both retail amenities and a significant regional employment center.
The 290-unit community includes a range of shared amenities that support its garden-style positioning. On-site features include a saltwater swimming pool, a fitness center, and a business center. These common-area offerings, combined with the property’s 2022 vintage and high occupancy level at sale, underscore its profile as a modern, institutional-quality multifamily asset within the Augusta market.
ATC Development, the seller in the transaction, has been building apartments in the region for over 50 years. The disposition of MacArthur Park reflects continued capital flows into newer multifamily product in Augusta, with investors pricing the property on both a per-unit and per-square-foot basis that aligns with its recent construction and amenity package.
